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Cryptocurrency News Video

Solana ETF application enters a new stage of SEC review, and altcoin ETF ushers in a breakthrough?

Feb 24, 2025 at 12:00 am North America Headlines

In recent years, with the successful launch of Bitcoin spot ETFs, crypto assets have gradually moved towards mainstream finance. After Bitcoin and Ethereum, Solana (SOL) is becoming the next "dark horse" to the market's attention. This week, the U.S. Securities and Exchange Commission (SEC) formally accepted the Canary Solana Trust ETF application, and VanEck, 21Shares and Bitwise also submitted similar applications. This means that Solana ETF has officially entered the regulatory review process. The market expects SOL to become the third type of crypto ETF asset approved for listing after Bitcoin and Ethereum. The Solana ETF application enters the new stage of SEC review📌 The SEC enters the Solana ETF review phase and may make preliminary statements within 21 days within 21 days. The Securities and Exchange Commission (SEC) issued an announcement on Tuesday to publicly solicit market opinions on the Canary Solana Trust ETF application. This move marks the official entry of Solana spot ETF into the initial stage of regulatory review. Following the process, the SEC will make a preliminary decision within 21 days (about three weeks), namely: Direct approval or rejection of the application (less likely). Extend the review period and postpone the final ruling (more likely). Later that day, the SEC also confirmed that VanEck, 21Shares and Bitwise submitted similar Solana ETF applications. This shows that the market's growing confidence in Solana as an ETF asset, and multiple institutions are acting simultaneously, which means that Solana ETF is expected to become a new generation of compliant crypto investment product after Bitcoin and Ethereum. 📈 Solana ETF: After Bitcoin and Ethereum, is the new favorite of mainstream finance? The success of Bitcoin spot ETFs laid the foundation for SOL ETF trials. In January this year, Bitcoin spot ETFs were officially approved in the United States, marking a new stage in the crypto market. Multiple ETF issuers (such as BlackRock, Fidelity, Ark Invest) actively promoted, and eventually Bitcoin ETFs attracted widespread attention and capital inflows among mainstream Wall Street investors. Currently, the Ethereum (ETH) spot ETF is also awaiting SEC approval and is expected to receive a final ruling in mid-2024. The industry generally believes that the success of Ethereum ETF will further open the door to altcoin ETFs, and Solana is likely to be the next crypto asset to enter Wall Street portfolio. Why choose Solana? What are its advantages? Solana has performed well in the crypto market in recent years, especially in DeFi (decentralized finance), NFT (non-fungible tokens) and blockchain infrastructure. Here are the core reasons why Solana is regarded as the "next generation ETF asset": High-performance public chain: Solana is known for its ultra-high transaction speed and extremely low handling fees, and can process thousands of transactions per second, far exceeding Ethereum. High market recognition: SOL currently ranks among the top five crypto assets in the world with sufficient liquidity and strong market demand. Institutional interest growth: Large funds and institutions have begun to hold SOL assets, indicating their potential to be assetized by ETFs. Change in the regulatory environment: As the SEC led by Gary Gensler gradually becomes more open to crypto assets, emerging public chain assets such as Solana are expected to gain greater regulatory space. 🔍 Regulatory attitude is changing, and the hope of Solana ETF being approved has increased significantly? In the SEC era led by Gary Gensler, the crypto market faces strict regulation, and after the adoption of Bitcoin ETFs, the market expects a loosening regulatory environment. The Solana ETF application was accepted by the SEC, which means that regulators have begun to accept the diversity of crypto asset ETFs. The possibility of Trump returning to the White House is also seen as a potential benefit to the crypto industry. According to Canary Capital CEO Steve McClurg, the existing SEC leadership may adjust its policies if Trump returns to power, prompting more crypto asset ETFs to enter the compliant market. The SEC has been conservative about altcoin ETF applications over the past few years. However, with the growth of market demand, institutional capital inflows, and Wall Street's acceptance of the crypto market increased, the possibility of Solana ETF being approved has increased significantly. 🌍 How does the global market view Solana ETF? 1. Grayscale Solana Trust Submit Application Just before Canary Capital submits its Solana ETF application, crypto investment giant Grayscale has taken the lead in applying for Grayscale Solana Trust. If Grayscale application is approved, it will become the first Solana ETF to be listed, which will play an important role as a weather vane for subsequent applications. 2. Changes in attitudes of Wall Street In recent years, financial giants such as BlackRock and Fidelity have entered the crypto field. The success of Bitcoin ETFs has made more institutions willing to explore ETF opportunities for other crypto assets, and Solana, as one of the most mature public chains, has naturally become a popular choice. 3. Market Investors are optimistic. Market research firm CryptoQuant pointed out that Solana's holdings data indicate that institutional funds are flowing quietly, which indicates that investors are planning ahead of schedule for market opportunities that the Solana ETF may be approved. 📊 Solana ETF Approval Schedule Follow the SEC process, Solana ETF applications will go through multiple review phases: February 6, 2024: The SEC begins public consultation with the Canary Solana Trust. February 27, 2024 (21 days later): The SEC will make a preliminary ruling (approval, denial or extension of review). March to June 2024: If the SEC extends the review period, the final decision may be announced in mid-2024. Meanwhile, the Grayscale Solana Trust application will receive a SEC decision a few days in advance, which may provide important reference for subsequent Solana ETF applications. 💡 Conclusion: Is Solana ETF the next crypto market trend? With the successful listing of Bitcoin ETFs and the final review of Ethereum ETFs, the application of Solana ETFs to officially enter the SEC review, becoming the next hot topic of market attention. Although the SEC may not approve SOL ETFs in a short period of time, the change in the regulatory environment, the growth of institutional interest and the increase in market demand have gradually increased the possibility of Solana ETFs being approved in the next 6-12 months. 🔹 Short-term attention: Whether the SEC extends the review period or decide directly. Progress in the application for Grayscale Solana Trust, whether it can be a pioneer in Solana ETF. ✅ Long-term trend: Mainstream finance has increased acceptance of Solana, and ETFs may be officially approved in the second half of 2024. The crypto market is moving towards more compliance and provides investors with more compliant investment tools. As the SEC review enters a critical stage, the Solana ETF may become the next hot spot in the crypto market, attracting the attention of a large number of institutional investors. In the coming months, SOL price trends may be directly affected by the progress of ETFs and deserve close attention from investors. 🚀💰
Video source:Youtube

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